Cyprus

Cyprus has become one of the UK’S preferred property buying grounds out performing even Spain and France on the popularity front and offering an affordable high quality property market. With Cyprus due to adopt the Euro currency on 1st January 2008, there has never been a better time to invest or buy property in Cyprus.

Cyprus lies in the Eastern Mediterranean and is a land of stunning natural beauty and rich heritage. The island enjoys glorious summery weather all year round, giving rise to its relaxed outdoor lifestyle. Cyprus offers many activities to visitors ranging from skiing and walking treks in the mountains to lounging the day away on one of the many picturesque beaches.

Cyprus has always had a constant flow of tourists due to it’s convenient location and year round climate. Flights can now be purchased for less than £100 and with the government promoting tourism, including the extension of two of Cyprus’s airports, visitor figures could reach 4 million a year by 2010. This will further strengthen the rental market resulting in potentially lucrative returns on investment and growth in both the off plan and resale markets.


Since Cyprus joined the EU, property prices have risen by up to 20% per year, as well as investors there are also many people looking for holiday homes and a place to retire to. This should help the property market continue to grow and maintain year on year price increases.

Why Invest In Property In Cyrpus

  • Low flat tax rate for non-Cypriot residents of just five%.
  • Prices have gone up rapidly in the last few years with increases up to 20% a year
  • Mature property market
  • Prices around 30% cheaper than prices in Spain, Southern France and Italy
  • Due to the island’s strict planning and building regulations, the supply of properties remain limited
  • The Cyprus property market is also benefiting from the uncertainty surrounding the UK market and has benefited from the substitution effect of UK property investors seeking growth and income in a market at a different stage of the property cycle.
  • Cyprus has a robust English-based legal and banking systems as well as English being widely spoken
  • The two international airports at Larnaca and Paphos are being expanded at a cost of €500m to increase the capacity to over 7.5 million passengers a year, The projects will be completed by 2009.